Algonquin Power's Q4 Adjusted Net Earnings, Revenue Rise; Fiscal 2023 Adjusted Earnings Outlook Kept; Quarterly Dividend Cut, from 2 hours ago by MT Newswires
2 hours ago by MT Newswires
07:37 AM EDT, 03/17/2023 (MT Newswires) -- Algonquin Power & Utilities (AQN) reported Q4 adjusted net earnings early Friday of $0.22 per share, up from $0.21 a year earlier.
Analysts polled by Capital IQ expected $0.20.
Revenue for the quarter ended Dec. 31 was $748 million, up from $592 million a year earlier. Three analysts polled by Capital IQ expected $703.5 million.
The company said it continues to expect fiscal 2023 adjusted net earnings of $0.55 to $0.61 per share. Analysts polled by Capital IQ expect $0.58.
Algonquin Power also said that as per its Jan. 12 announcement, it lowered its quarterly dividend to $0.1085 per share, payable on April 14 to shareholders of record as of March 31.
The company's shares were down 2.2% in Friday's premarket trading.
Price: 7.5, Change: -0.17, Percent Change: -2.22